In these pages we have written often about the benefits of incorporating Hurst channels into your trading routine, and the ease of doing this with the OddsTrader app.
For those new to the subject, let’s start with a brief introduction of this multipurpose tool. As the name implies, Hurst channels were introduced to the trading public by J.M. Hurst in his book “The Profit Magic of Stock Transaction Timing”, first published in 1970. Hurst channels fall in the category of forward looking technical analysis (TA) tools, and provide a powerful visual aid for defining a trend and determining with high accuracy the future trading range and support/resistance levels of any instrument in any time frame (Figure 1):
(Figure 1) As can be seen from the chart above, Hurst channels add an element of clarity, by drawing attention away from random price noise, and by clearly defining the trend without any lag. However with OddsTrader, we didn’t limit ourselves to just delivering a pretty chart; we went many steps further by adding additional TA and money management tools, such as trading signals and scanners, cycle tools, a risk/reward oscillator, pivot line, support/resistance levels, etc. (Figure 2):
(Figure 2) And although the price chart remains a key element of the app, today we want to draw attention to an often overlooked but very powerful integral element of the app, namely the Data Tab (Figure 3):
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